As he walked on stage to the soundtrack of Stevie Wonder's Signed, Sealed, Delivered, I'm Yours the eccstatic crowd chanted "Four more years! Four more years!"

In his victory address, Mr Obama told the audience that compromise was needed to move America forward and pledged to work with Democrats and Republicans to reduce the country's deficit and its dependence on foreign oil.

He also vowed to speak to his Republican challenger Mitt Romneyabout, "where we can work together to move this country forward".